Dark Forest Capital Management LP Has $1.21 Million Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Dark Forest Capital Management LP lessened its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 72.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,906 shares of the company's stock after selling 31,983 shares during the period. Dark Forest Capital Management LP's holdings in Beacon Roofing Supply were worth $1,209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BECN. HighTower Advisors LLC boosted its position in shares of Beacon Roofing Supply by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock valued at $234,000 after purchasing an additional 181 shares during the period. MML Investors Services LLC acquired a new stake in Beacon Roofing Supply during the 3rd quarter valued at $268,000. Barclays PLC lifted its holdings in shares of Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company's stock valued at $10,547,000 after purchasing an additional 89,222 shares in the last quarter. Tidal Investments LLC lifted its stake in Beacon Roofing Supply by 11.8% in the 3rd quarter. Tidal Investments LLC now owns 5,022 shares of the company's stock worth $434,000 after acquiring an additional 530 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Beacon Roofing Supply by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 540,305 shares of the company's stock valued at $50,443,000 after acquiring an additional 13,092 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Beacon Roofing Supply Trading Up 0.0 %

BECN stock traded up $0.03 during midday trading on Tuesday, reaching $124.22. The company's stock had a trading volume of 8,316,564 shares, compared to its average volume of 1,186,515. The business's 50-day simple moving average is $120.69 and its 200-day simple moving average is $111.87. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $124.31. The stock has a market cap of $7.68 billion, a PE ratio of 21.23 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. As a group, sell-side analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 16,595 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total value of $2,051,307.95. Following the completion of the transaction, the executive vice president now directly owns 463 shares of the company's stock, valued at approximately $57,231.43. The trade was a 97.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clement Munroe Best III sold 29,724 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $123.05, for a total value of $3,657,538.20. Following the sale, the insider now directly owns 87,943 shares in the company, valued at approximately $10,821,386.15. This represents a 25.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,806 shares of company stock worth $6,745,448 in the last ninety days. Company insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada downgraded shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from $124.00 to $124.35 in a research report on Wednesday, April 2nd. StockNews.com assumed coverage on Beacon Roofing Supply in a report on Saturday. They issued a "sell" rating for the company. BMO Capital Markets restated a "market perform" rating and issued a $124.35 price objective (down previously from $130.00) on shares of Beacon Roofing Supply in a research note on Thursday, April 17th. Baird R W downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. Finally, William Blair reissued a "market perform" rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $121.47.

Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.